Insurance claims 'up 165 per cent at New Year's Day'

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Insurance claims 'up 165 per cent at New Year's Day'

The average claim for home insurance increases by 165 per cent on New Year's Day, according to research by HSBC Home Insurance.

Claims following house parties are typically for smashed windows and mirrors or stolen belongings.

Furthermore, fires caused by candles left burning unattended were another common cause of claims, with one HSBC customer left with a claim of £127,000 after they did not extinguishing one of the decorative items.

If guests are expected, the bank advises consumers to move precious or expensive possessions into a locked room to ensure they do not go missing.

David Wells, head of insurance propositions at HSBC, said: "At this time of the year, many people will be attending various New Year's gatherings or hosting parties of their own, which invariably mean wine spilt on expensive carpets, broken glasses or even an unplanned bonfire in your living room."

HSBC customers who found themselves with little spare cash this year may have had an unexpected windfall when the bank reunited 5,000 people with more than £8 million from forgotten savings and current accounts.

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